CORONA DEL MAR, CALIF. – November 12, 2015 – (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Eric Vu and Jeff Hauber completed the sale of a 2,900-square-foot retail building in Orange County for $1.2 million, representing a cap rate of 4.17%
The two-tenant retail building is located on .32 acres at 14191 Newport Avenue, near the intersection of McFadden Avenue and Newport Avenue in Tustin, Calif.
Vu added, “Within a three-mile radius, there are 230,000 people with an average household income of $92,000. The buyer who lives nearby knows the quality of the immediate trade area. Investors are willing to pay the premium for quality assets in a low inventory market.”